It's a secret that needs to be shared - Dairy cows can take the “leftovers” of human food and fiber processing and turn them into high-quality protein.
Now that its mid-January, dairy producers are eagerly awaiting an announcement to sign up for the Dairy Margin Coverage program. The Farm Service Agency office has yet to reveal when the 2024 enrollment period will open.
While we have flipped the calendar to a New Year, we didn’t necessarily say goodbye to low milk prices. 2023 was a tough year financially for dairy producers and 2024 isn’t off to a great start either.
Producers are hoping for stronger milk prices next year. First quarter milk price looks less than promising - causing producers to turn to plan B which is hoping DMC payouts generate a healthy sum in the year ahead.
The U.S. dairy cow herd has reached its lowest point since January 2022. Following suit, milk production per cow in the 24 major states declined by 3 lbs. per cow month-over-month.
Recently on a Farm Journal Milk Business webinar, three dairy thought leaders talked about the importance of gathering around a table with other team members, especially during challenging times.
Recently on a Farm Journal Milk Business webinar, three dairy thought leaders talked about the biggest challenges facing producers and what their takes are on risk management strategies.
Agility — it can be the difference between those who make it in the dairy industry and those who don’t. Learning to pivot to the next stepping stone to success is what leading dairies, like Van Ess Dairy doing well.
One word to describe the dairy economy is volatile. One reason that producers have managed through the up and down prices is that they have learned to balance the profit equation by utilizing risk management practices.
While considerably lower than the previous month’s payouts, a Dairy Margin Coverage payment was triggered once again. At just $1.06 per cwt., the September DMC margin triggers an indemnity payment at the $9.50 level.
Three business-minded dairy leaders will gather together during a Farm Journal Milk Business Quarterly webinar to share advice on how to future-proof your dairy business.
Earlier this month, AgriTalk host, Chip Flory visited with two dairy farmers at World Dairy Expo to talk about the challenges that face dairy, as well as what opportunities lie ahead in the years ahead.
The Dairy Margin Coverage (DMC) calculators have been nonstop in 2023. In July, the DMC hit its lowest level since the program began in 2019. Zach Myers with MVMP provides an update on the program's overall snapshot.
Mike Simone, Executive Director of market Research and Intelligence with the National Cattlemen’s Beef Association, says high beef prices are here to stay for a while for several reasons.
The July 2023 USDA Milk Production report spotlighted difficult conditions in the Southwest and California. The report showed a 0.6% decrease in year-over-year milk production. Cow numbers also dropped year-over-year.
Alyssa Badger with HighGround Dairy shares that producers have felt the whiplash milk prices have delivered, swinging from record highs last spring to extreme lows this summer which was caused by a combination of events.
Dairy producers and industry professionals who register before Sept. 30th for the Milk Business Conference will earn a chance to win three concert tickets to see Garth Brooks live in concert at Caesar’s Palace on Dec. 1.
Bad times don’t last forever. Neither do good days. The mood of the industry quickly changed from an upbeat tone in 2022 to a sad melancholy note this summer.
While a lot has changed for Ballard Family Dairy and Cheese in Gooding, Idaho, in the last ten years, one thing has remained consistent—their drive for sustainability.
As predicted, a very large Dairy Margin Coverage (DMC) payment is coming to producer’s mailboxes. In fact, June’s DMC income over feed cost calculation set a new record low at just $3.65/cwt.
Phil Plourd with Ever.Ag says that combine miserable weather in key growth areas such as Texas with shrinking farm margins and you get a Milk Production report showing the worst performance that we’ve seen in a while.
Producers are challenged paying the bills with the lack-lusting prices that have shown up on milk checks this summer. Dairy financial leaders share tips on what to do and not to do to survive tough financial times.
With the milk price not looking promising compared to last year, Ben Laine says that taking advantage of some opportunities elsewhere will help producers push past what we hope is the bottom of the milk market in 2023.
Two producers on the opposite side of the country: Dwayne Faber of Washington and Val Lavigne of New York joined AgriTalk host Chip Flory and spoke about the challenges facing their dairies.
Volatility continues to run rampant through commodity markets. Rains in the Midwest have given dairy producers a breather on the run for higher corn and soybean meal prices, but it also fizzles out the support in milk.
Last year’s record milk price year fueled producers to strategically plan how to utilize the extra income from strong milk prices. Now many producers are wondering what has changed to wildly swing milk prices.
Ben Laine shares we would need a big demand surge to see a significant increase in prices. He also adds that June is likely to be the bottom of prices, although he remains cautious for the second half of 2023.
Feed costs will continue to be the No. 1 expense. Jim Salfer, Extension dairy educator with the University of Minnesota, offers some best practices to help producers lower feed costs.
After record milk prices in 2022, the downturn has come on quick and felt hard by those producers who milk cows for a living. A dairy financial consultant offers five pieces of advice to survive dairy’s volatile markets.
The ongoing milk price rollercoaster that seems to be on a downward track has once again forced a Dairy Margin Coverage payment to be issued in 2023. The DMC income over feed costs for April is $5.84/cwt.
Head to Lancaster County Pennsylvania and the sweet aroma of candy can be smelled on a family dairy farm. Red Knob Dairy has been feeding upcycled Hershey candy waste to their cows for more than a decade.
With today’s market conditions, producers are capitalizing on strong beef prices. More cows went to slaughter in March, the highest total since 1986, the year of the whole-herd buyout program.
The March 2023 USDA Milk Production report showed a 0.5% increase in year-over-year milk production. Cow numbers also showed an increase of 31,000 head over last year, but production per cow only gained 3 lbs.
Waning milk prices, persistently high feed costs, and spotty feed inventories appear to be the emerging financial story of the 2023 U.S. dairy industry.
Technology is no stranger to the dairy industry. With all the new technologies hitting the market and endless new ways to handle the tasks on a dairy, it can be hard to determine what to implement on your operation.
For the second time this year, a Dairy Margin Coverage (DMC) payment will be issued. The USDA’s Farm Service Agency announced that March’s DMC income over feed costs calculation is $6.19/cwt.
Warren Buffet saying, “Rule No. 1: Never lose money. Rule No. 2, don’t forget Rule No. 1” is widely known. Dr. Brady Brewer from Purdue University said it is unlikely that Buffet spends much time working in ag.
The challenges that face the Golden State have quickly changed from drought to flooding and played havoc with the California agriculture landscape. This has forced several dairies to move their cattle to higher ground.
The rollercoaster of the dairy industry certainly isn’t new. Dan Basse told the PDPW audience last week that a great reset is underway for the dairy economy, which will spell a more competitive world market.
A different story is unfolding in 2023 with a decline in milk prices, while expenses continue to remain high. What are the best recommendations to help position yourself for a good start for the first half of the year.
So, you want to build a new feed center? Where to start without getting caught up in all the nitty gritty details? Start with all your wants and a wish list that fulfills your finished project vision.
One glance at the milk futures and it’s hard to be optimistic, especially coming off a record milk market year. Simply stated, the second half of the year presents opportunities that come with bittersweet reviews.
